Thursday, April 27, 2006

Hit #94

NetIQ (NTIQ), the performance management software company, is being acquired by Attachmate WRQ for $495 million in cash.

The deal values NetIQ shares at $12.2, a premium of 10.3% over my average cost per share of $11.06.

NetIQ has been rumored to be a target for a while, as it belongs to the class of the tech living-dead, with close to $5/share cash in hand. Management could have gotten a better deal for shareholders, but that is being overly optimistic!Previous hit - Navigant (#93)